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Life Reinsurance

Reinsurance is commonly used by life and health insurers to manage their profitability, risk and capital, and to access services provided by third party reinsurers. The Life and Health Reinsurance Working Party was established in 2014 and has since set itself the ambition of developing into a source of practical knowledge and expertise on matters relating to reinsurance. Rather than looking at the theory behind reinsurance, the Working Party has been focused on the value that reinsurance can provide across the insurance industry.

The members of the Working Party include actuaries employed by insurers, reinsurers and consultants. This diverse group allows the Working Party to present views from all angles of reinsurance transactions.  

The initial research carried out by the Working Party looked at how reinsurance decisions are being made and was presented at the Life Conference in 2015 (Reinsurance should be a Tool, not a Habit - Life Conference, 2015).

Following on from this initial research the Working Party is now exploring the problem of optimizing reinsurance from both the insurer’s and reinsurer’s perspective. The Working Party is authoring a paper looking at the potential misconceptions, inefficiencies and mistakes often seen around the use (or lack thereof) of reinsurance. Again rather than provide the theory on how both insurers and reinsurers may be able to derive greater value from their transactions, the Working Party is focused on practical examples and implementable solutions. Our research is following the framework as set out in this infographic. The Working Party intends to present this paper at Life Conference in 2018.

Outputs:

In April 2018 the working party membership is: Greg Solomon (Chair), Alexandra Manion, Arminder Kainth, Benoit Rio, Craig Gillespie, David Lipovics, Kyle West, Niall Kavanagh, Peter Mannion, Ruud van Doorn and Tom Keel.

Chair Greg Solomon
Membership 10
Established 2014

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Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Events calendar

  • Spaces available

    A Trusted Profession

    This free 1 hour CPD webinar is designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020 and is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive.

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    Part of the Protection, Health and Care Conference 2020 webinar series

    Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates. 

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    Part of the Protection, Health and Care Conference 2020 webinar series

    In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.

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    Part of the Protection, Health and Care Conference 2020 webinar series

    The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC. 

  • Fully booked.

    This event is now fully booked. To join the wait list, please register here.

    Get ready for the new CPD Scheme launching on 1 September. Join us for a discussion on what the new Scheme will look like in practice. There will be an opportunity to field questions to the IFoA Executive on how the Scheme’s requirements will affect you.

  • Asia Conference Webinar Series

    Webinars
    1 September 2020 - 24 September 2020

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    There will be a prestigious line-up of international speakers discussing the insurance and financial industry’s innovation and change in Asia.  The conference will take place throughout September via an online platform. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, Sustainability, Risk Management and Investment.

    This will be the perfect opportunity for you to discover,ask questions and be at the forefront of current and developing actuarial/financial topics and trends in Asia.

     

  • Spaces available

    In this webinar we will provide an insight into enterprise-wide risk management in banking, showing similarities to the world of insurance as well as identifying differences. Just as insurance companies have to submit an ORSA, so bank’s have to submit their own equivalent, the Internal Capital Adequacy Assessment Process or ICAAP.

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    This free 90 minute webinar is designed to support the IFoA CPD Co-ordinators, and others, involved in supporting our members to achieve their CPD requirements. 

    The programme will include an overview of the new CPD Scheme; specifically sharing with you key messages to support you implement and embrace the new CPD Scheme for our members within your organisation and regional community; how to arrange a reflective practice discussion; and an interactive reflective practice discussion learning exercise.  In addition, delegates will gain information about accessing, and making the most of the IFoA event Toolkits which you can make use of to run your own in-house events and events for regional communities.